Chapter 6.5, Problem 20IP

To determine

To find: Selling price.

Answer to Problem 20IP

Selling price $=$$\$3.5$

Explanation of Solution

Given information:

Cost price $=\$7$

Discount $=50\%$ on Cost price

We know

Selling price $=$ Cost price $-$ Discount

Given

Discount is $50\%$ of Cost price that is $\$7$

Therefore,

Discount $=\left(\frac{50}{100}\right)\times 7$

  $\Rightarrow$ Discount $=\left(0.5\right)\times 7$

  $\Rightarrow$ Discount $=3.5$

Therefore,

Selling price $=$$\$7-\$3.5$

  $\Rightarrow$ Selling price $=$$\$3.5$